Bilateral Trade: Between India and Turkey

Abstract

Bilateral trade between Turkey and India in import Turkey was the 44th largest worldwide cause and India was 47th major basis from Turkey. And in export Turkey was 16th largest and India was 9th largest global sources of export destination. In 2014 the amount US$6.9 billion India exported to Turkey, and Turkey globally importers 2.8%. In 2014 India exported mineral fuels and goods dominate to Turkey. India was 7th main provider of petroleum lubricant crystal to Turkey. For Turkey India is a major world-wide basis of import. India imports from turkey, Organic chemicals are in the 8th major universal basis, manmade staple fibres in the 3rd major worldwide source; and an automobile is in 11th major basis. From 2005 to 2014 India's imports has risen from US$219.9 million. In 2019 at the G-20 summit, India representative Sanjay Bhattacharyya said in Ankara that recently Turkey and India trade and two-way investment were in much higher potential. He spoke on the title of invest in India that with the commitment of India economic Turkey growth has been increased and it has been reached from 22% to $8.6 billion in 2018. By 2020 the goal was to reached $ 10 billion trade and till 2025 to be more resolute aim. The aim of the paper is to understand the relation of trade between Turkey and India

Keywords

• Trade
• Export
• Import

References

1. [1] “Turkey, India are ‘natural’ allies: AKP deputy,” Hürriyet Daily News, July 19, 2019, https://www.hurriyetdailynews.com/turkey-india-are-natural-allies-akp-deputy-145273.
2. [2] Selçuk Çolakoğlu, “Turkey-Pakistan Security Relations since the 1950s,” Middle East Institute, November 25, 2013, https://www.mei.edu/publications/turkey-pakistan-security-relations-1950s.
3. [3] “Fatin R. Zorlu, Türk görüşünü açıkladı” [Zorlu shared Turkish view], Milliyet, April 22, 1955; “Nehru, Bağdat Paktına şiddetle hücum etti” [Nehru strongly condemned the formation of the Baghdad Pact], Milliyet, July 12, 1955¸ Tevfik Rüştü Aras, “Türk-Hint bildirisi ve dış işleri bakanlarının rolü” [Turkish-Indian foreign ministers’ declaration], Milliyet, January 19, 1968.
4. [4] Nur Batur, “Gandi Ankara’da” [Gandhi arrives to Ankara], Milliyet, July 18, 1988.
5. [5] Zafar Imam, “OIC and the Kashmir issue: Options for India,” International Studies 39, 2 2002.
6. [6] V.P. Dutt, India’s Foreign Policy since Independence (Delhi: National Book Trust, 2007) 16-17.
7. [7] Ishtiaq Ahmad, “Turkey and Pakistan: Bridging the Growing Divergence,” Perceptions 5, 3(2000), https://dergipark.org.tr/en/download/article-file/816874.
8. [8] Jyotsna Singh, “Ecevit in landmark India trip,” BBC News, March 30, 2000.

9. [9] “Vajpayee holds talks with Turkish PM,” Times of India, September 17, 2003, https://timesofindia.indiatimes.com/india/Vajpayee-holds-talks-with-Turkish-PM/ articleshow/186453.cms; and M. Shakeel Ahmed, “Vajpayee hits out at developed countries,” Rediff,September18,2013.
10. [10] Selçuk Çolakoğlu, “MIKTA in Global Governance as a Middle Power Grouping: A Turkish Perspective,” in Retno Marsudi (ed.), MIKTA: Current Situation and The Way Forward (Jakarta: Indonesian Ministry of Foreign Affairs, 2018): 51-72; IMF World Economic Outlook, 2020.
11. [11] Embassy of India, Ankara, Turkey, “India-Turkey Relation,” https://www.indembassyankara.gov.in/.
12. [12] Government of India, Ministry of External Affairs, “Visit of H.E. Mr. Abdullah Gul, the President of the Republic of Turkey to India,” February 9, 2010, http://www.mea.gov.in/pressreleases.htm?dtl/1193/Visit+of+HE+Mr+Abdullah+Gul+the+Presiden t+of+the+Republic+of+Turkey+to+India.
13. [13] Turkish Statistical Institute (TURKSTAT), http://www.turkstat.gov.tr/Start.do.
14. [14] Nayanima Basu, “Erdogan exhorts India Inc to invest in Turkey,” The Hindu Business Line, May 1, 2017, https://www.thehindubusinessline.com/economy/erdogan-exhorts-india-inc-to-invest-inturkey/article9675245.ece.
15. [15] Relation between India and Turkey, https://www.indembassyankara.gov.in/page/relation